Bering Exploration announces test results on its N. Edna prospect with potential gross reserves of $95 million
Wednesday, Feb 20, 2013
HOUSTON, Feb. 19, 2013 /PRNewswire/ -- Bering Exploration, Inc., (OTCBB: BERX) announced today that it has completed the initial production test conducted at the conclusion of the re-completion performed on one of its wells on its North Edna prospect. The initial test report showed that the well flowed at 400 MCF per day on a #6 choke at a 2914 pressure rate with a recovery rate of 4.33 barrels per day of condensate and no water from a virgin zone in this formation. This 348 acre prospect is located in Jefferson Parish, Louisiana and has potential gross reserves of the equivalent of 1 million barrels which, based upon today's prices, equates to a gross value of more than $95 million dollars.
"We are very pleased to get a positive test result," stated Steven Plumb, VP of Finance of Bering. "We are now taking bids to complete the well and establish a gas pipeline tie-in."
About Bering Exploration, Inc.
Headquartered in Houston, Texas, Bering Exploration, Inc. is an independent oil and natural gas company that focuses on identifying, evaluating, developing and acquiring potential natural gas and oil wells in the Gulf Coast onshore region. Additional information about Bering can be found on the web at www.beringexplore.com.
SOURCE Bering Exploration
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